2/5th of Indian oil debt to Iran


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-Iranian Central Bank Deputy Governor for Currency Affairs Seyyed Kamal Seyyed Ali said India paid off two fifth of its total oil dept to Iran, hitting 4.7 billion euros.

He refused to give comments on South Korean oil debt to Iran.

Seyyed Ali referring to sanctions imposed on Central Bank of Iran said, “based on legal regulations, central banks are immune and sanctions cannot be imposed on them, but experiences have proved that western countries have violated law several times.”

He expressed hope sanctions would not be imposed on Iran and noted, “due acts have been considered for the issue.”

The payment came whereas sanctions against Iran had blocked payments all year.

India is Asia's third-largest economy and Iran's second-largest oil buyer after China. India imports about 20% of its crude oil from Iran.

The UN Security Council has imposed 4 sets of sanctions against Iran over its refusal to halt peaceful nuclear plan. Sanctions mainly target Iran's banking and energy sectors.